ACCOUNTS - Final Accounts preparation

Operating (loss)/profit

The operating (loss)/profit is stated after charging:

Registered number: 04533319

	ANNUAL REPORT AND FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 SEPTEMBER 2025

	SYMETRICA LIMITED


SYMETRICA LIMITED

COMPANY INFORMATION

Directors	I P Dale-Staples
	P R Davies
	A M H Hook
	Dr D J Price
	Dr J Zangardi
	Parkwalk Advisors LTD
	E F Zanin


Company secretary	T Baker


Registered number	04533319


Registered office	1st Floor Kenneth Dibben House Enterprise Road
	Southampton Science Park
	Southampton
	SO16 7NS


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


Bankers	HSBC UK Bank plc
	1 Centenary Square
	Birmingham
	B1 1HQ


Solicitors	Moore Barlow LLP
	Gateway House
	Tollgate
	Chandlers Ford
	Eastleigh
	Hampshire
	SO53 3TG


SYMETRICA LIMITED

CONTENTS

	Page
Group Strategic Report	1 - 2
Directors' Report	3 - 4
Independent Auditor's Report	5 - 8
Consolidated Statement of Income and Retained Earnings	9
Consolidated Statement of Financial Position	10 - 11
Company Statement of Financial Position	12
Consolidated Statement of Changes in Equity	13 - 14
Company Statement of Changes in Equity	15
Consolidated Statement of Cash Flows	16 - 17
Consolidated Analysis of Net Debt	18
Notes to the Financial Statements	19 - 41


SYMETRICA LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Introduction

Symetrica has been a leading independent supplier of radiation detection and security monitoring systems in the global security market for over 24 years. Our IP portfolio contains 17 core technologies with global patent protection. The company’s primary market is homeland defence and military radiation detection SMEs. Our customers include nuclear energy providers, governments, and emergency service organisations. The US and UK governments are the largest consumers of Symetrica products and services.

Business review

The year ended 30 September 2025 was one of contrasts for the Group. Strategically, the year saw meaningful progress, most notably the launch of the VeriFinder S300, a next-generation radiation search backpack that sets a new benchmark in portable detection technology. From the S300 launch, the company successfully won a landmark £6 million contract under the EU RescEU programme and £1.2m programme for the UK Home Office, both under significant technical and commercial competition from industry peers. Additionally, the company continued to deploy its advanced radiation portal monitoring system throughout the Kingdom of Saudi Arabia at critical border crossings. In support of the ZATCA (Saudi Customs) and NRCC (Saudi nuclear monitoring commission) the company deployed Symetrica’s Discovery software platform for nationally monitoring RPM information. This is the company’s first instance of a multi-site software deployment with anticipated year-on-year revenues for a subscription plan. Revenue for the year was, however, lower at £14.4 million (2024: £21.4 million), reflecting the impact of customer-driven programme delays rather than any deterioration in the Group’s competitive standing. Such delays are a market reality in government procurement cycles.

Three programmes were principally affected. A second phase upgrade programme at a UK nuclear facility valued at approximately £3.5 million was delayed by the customer, while a £2.4 million development programme supporting rail crossing security applications in the United States was deferred into future periods. In addition, supply chain and logistics challenges delayed the shipment of radiation portal systems to the Kingdom of Saudi Arabia, impacting approximately £2.6 million of expected revenue.

The Directors are confident that the substantial majority of these revenues remain recoverable in future periods. The consequent shortfall in cash generation did, however, require management to act promptly to align the cost base with near-term revenue phasing, including a restructuring of the workforce and tighter controls over working capital.

Looking ahead, the Directors remain confident in the Group's long-term prospects. Revenue began recovering in FY25-26, with the successful shipping of the Saudi radiation portals, and a more material improvement is anticipated in FY2027, by which point the Directors expect both revenue and profitability to be approaching pre-downturn levels.

Principal risks and uncertainties

The principal risks to the business are related to large government procurement opportunities that are subject to extended decision timescales, budget cycles and political influences.

Additional risks include customer programme deferrals, working capital and liquidity requirements, supply chain disruption, foreign exchange exposure and changing government procurement priorities.

Financial key performance indicators
Our financial key performance indicators include:
	2025	2024
	£	£

Turnover	14,428,569	21,371,115
Adjusted EBITDA (before exceptional expenses)	72,731	3,093,014
Profit/(Loss) before tax	(2,047,034)	1,391,348
Net Profit/(Loss) after Tax	(2,279,121)	1,515,123
Gross assets	13,129,837	12,440,676

Adjusted EBITDA is calculated after adding back share option charges, and bonus payments to management.

Page 1


SYMETRICA LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Risk mitigation factors

The Group continues to diversify its customer base, product portfolio and geographic markets. International growth across Europe, the Middle East, and Asia is progressing well and further reduces the Group’s dependence on any single market or geography. The commercial organisation is expanding based on an increased product portfolio and the geographic reach required to expand sales.

Future developments

The Group continues to invest in its Discovery software platform and SaaS offerings while expanding international sales channels. Management’s near-term priorities are the delivery of the backpack programme, the conversion of the deferred revenue opportunities described above, and the continued strengthening of the balance sheet.

This report was approved by the board and signed on its behalf.

................................................

E F Zanin

Director

Date: 27 October 2026

Page 2


SYMETRICA LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their report and the financial statements for the year ended 30 September 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £2,279,121 (2024 - profit £1,515,123).

The Directors do not recommend payment of a dividend.

Directors

The directors who served during the year were:

I P Dale-Staples

P R Davies

A M H Hook

Dr D J Price

Dr J Zangardi

Parkwalk Advisors LTD

E F Zanin

Future developments

Please refer to the Strategic Report.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

Page 3


SYMETRICA LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Post balance sheet events

See Note 33 for details of post balance sheet events to report following the year end.

Auditor

Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.

................................................

E F Zanin

Director

Date: 27 October 2026

Page 4


SYMETRICA LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SYMETRICA LIMITED

Opinion

We have audited the financial statements of Symetrica Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2025, which comprise the Consolidated Statement of Income and Retained Earnings, the Consolidated Analysis of Net Debt, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the Parent Company's affairs as at 30 September 2025 and of the Group's loss for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5


SYMETRICA LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SYMETRICA LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the Parent Company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so.

Page 6


SYMETRICA LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SYMETRICA LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

∙The Company is subject to laws and regulations that directly affect the financial statements including financial
reporting legislation, and general regulations such as health and safety and general data protection regulation.

∙There are no industry specific laws and regulations which would be deemed to have a significant impact on the
financial statements. We assessed the extent of compliance with the appropriate laws and regulations as part of our
procedures on the related financial statement items.

∙We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to
management, those responsible for legal and compliance procedures. We corroborated our inquiries through our
review of documentation.

∙The engagement partner assessed whether the engagement team collectively had the appropriate competence and
capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any
issues in this area.

∙We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud
might occur. Audit procedures performed by the engagement team and component engagement team included:

°Identifying and assessing the design effectiveness of controls management has in place to prevent and
detect fraud;

°Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;

°Challenging assumptions and judgments made by management in its significant accounting estimates; and
Identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations.

∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in the following areas:

°Posting of unusual journals and complex transactions;

°Misappropriation of funds through fraudulent supplier ledger and payroll activity; and

°Manipulation of amounts subject to significant judgement or estimate.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Page 7


SYMETRICA LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SYMETRICA LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

James Hadfield FCA (Senior Statutory Auditor)

for and on behalf of

Menzies LLP

Chartered Accountants

Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX

27 October 2026

Page 8


SYMETRICA LIMITED

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

	2025	2024
Note	£	£


Turnover	4	14,428,569	21,371,115
Cost of sales		(6,812,471)	(10,512,392)
Gross profit		7,616,098	10,858,723
Administrative expenses		(9,604,223)	(9,404,282)
Other operating income	5	28,841	-
Operating (loss)/profit	6	(1,959,284)	1,454,441
Interest receivable and similar income	11	1,036	2,981
Interest payable and similar expenses	12	(88,786)	(66,074)
(Loss)/profit before tax		(2,047,034)	1,391,348
Tax on (loss)/profit	13	(232,087)	123,775
(Loss)/profit after tax		(2,279,121)	1,515,123



Retained earnings at the beginning of the year	(9,281,518)	(10,796,641)
	(9,281,518)	(10,796,641)
(Loss)/profit for the year attributable to the owners of the Parent Company	(2,279,121)	1,515,123
Retained earnings at the end of the year	(11,560,639)	(9,281,518)

The notes on pages 19 to 41 form part of these financial statements.

Page 9


SYMETRICA LIMITED REGISTERED NUMBER:04533319

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	14		4,501,221		3,078,029
Tangible assets	15		353,181		279,776
			4,854,402		3,357,805
Current assets
Stocks	17	2,493,657		2,200,658
Debtors: amounts falling due within one year	18	4,698,769		5,009,324
Cash at bank and in hand	19	1,083,009		1,872,889
		8,275,435		9,082,871
Creditors: amounts falling due within one year	20	(5,554,065)		(2,865,912)
Net current assets			2,721,370		6,216,959
Total assets less current liabilities			7,575,772		9,574,764
Creditors: amounts falling due after more than one year	21		(72,070)		(69,819)
Provisions for liabilities
Other provisions	25	(333,557)		(301,620)
			(333,557)		(301,620)
Net assets			7,170,145		9,203,325

Page 10


SYMETRICA LIMITED REGISTERED NUMBER:04533319

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Capital and reserves
Called up share capital	26	791	790
Share premium account	27	18,263,182	18,228,183
Foreign exchange reserve	27	(737,841)	(644,523)
Other reserves	27	1,204,652	900,393
Profit and loss account	27	(11,560,639)	(9,281,518)
Equity attributable to owners of the Parent Company		7,170,145	9,203,325
		7,170,145	9,203,325

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

E F Zanin

Director

Date: 27 October 2026

The notes on pages 19 to 41 form part of these financial statements.

Page 11


SYMETRICA LIMITED REGISTERED NUMBER:04533319

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investments	16		1,204,652		900,393
			1,204,652		900,393
Current assets
Debtors: amounts falling due within one year	18	11,636,207		10,071,178
Cash at bank and in hand	19	2,304		1,715
		11,638,511		10,072,893
Creditors: amounts falling due within one year	20	(7,800)		(7,800)
Net current assets			11,630,711		10,065,093
Total assets less current liabilities			12,835,363		10,965,486


Net assets			12,835,363		10,965,486

Capital and reserves
Called up share capital	26		791		790
Share premium account	27		18,263,182		18,228,183
Share option reserve	27		1,204,652		900,393
Profit and loss account brought forward		(8,163,880)		(11,608,981)
Profit for the year		1,530,618		3,445,101
Profit and loss account carried forward			(6,633,262)		(8,163,880)
			12,835,363		10,965,486

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

E F Zanin

Director

Date: 27 October 2026

The notes on pages 19 to 41 form part of these financial statements.

Page 12

SYMETRICA LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

	Called up share capital	Share premium account	Foreign exchange reserve	Share option reserve	Profit and loss account	Total equity
	£	£	£	£	£	£
At 1 October 2024	790	18,228,183	(644,523)	900,393	(9,281,518)	9,203,325
Comprehensive income for the year
Loss for the year	-	-	-	-	(2,279,121)	(2,279,121)
Foreign exchange difference on consolidation of foreign subsidiary	-	-	(93,318)	-	-	(93,318)
Total comprehensive income for the year	-	-	(93,318)	-	(2,279,121)	(2,372,439)
Contributions by and distributions to owners
Shares issued during the year	1	34,999	-	-	-	35,000
Other movements in equity	-	-	-	304,259	-	304,259
At 30 September 2025	791	18,263,182	(737,841)	1,204,652	(11,560,639)	7,170,145

The notes on pages 19 to 41 form part of these financial statements.

Page 13

SYMETRICA LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2024

	Called up share capital	Share premium account	Foreign exchange reserve	Share option reserve	Profit and loss account	Total equity
	£	£	£	£	£	£
At 1 October 2023	790	18,228,183	77,535	900,393	(10,796,641)	8,410,260
Comprehensive income for the year
Profit for the year	-	-	-	-	1,515,123	1,515,123
Foreign exchange difference on consolidation of foreign subsidiary	-	-	(722,058)	-	-	(722,058)
Total comprehensive income for the year	-	-	(722,058)	-	1,515,123	793,065
At 30 September 2024	790	18,228,183	(644,523)	900,393	(9,281,518)	9,203,325

The notes on pages 19 to 41 form part of these financial statements.

Page 14


SYMETRICA LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

	Called up share capital	Share premium account	Share option reserve	Profit and loss account	Total equity
	£	£	£	£	£
At 1 October 2023	790	18,228,183	900,393	(11,608,981)	7,520,385
Comprehensive income for the year
Profit for the year	-	-	-	3,445,101	3,445,101
Total transactions with owners	-	-	-	-	-

At 1 October 2024	790	18,228,183	900,393	(8,163,880)	10,965,486
Comprehensive income for the year
Profit for the year	-	-	-	1,530,618	1,530,618
Share option movements	-	-	304,259	-	304,259
Contributions by and distributions to owners
Shares issued during the year	1	34,999	-	-	35,000
Total transactions with owners	1	34,999	-	-	35,000
At 30 September 2025	791	18,263,182	1,204,652	(6,633,262)	12,835,363

The notes on pages 19 to 41 form part of these financial statements.

Page 15


SYMETRICA LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

			2025	2024
			£	£

Cash flows from operating activities
(Loss)/profit for the financial year	(2,279,121)	1,515,123
Adjustments for:
Amortisation of intangible assets	1,136,966	1,265,236
Depreciation of tangible assets	107,064	24,096
Loss on disposal of tangible assets	-	6,227
Government grants	(28,841)	-
Interest paid	88,786	66,074
Interest received	(1,036)	(2,981)
Taxation charge	232,087	(123,775)
(Increase)/decrease in stocks	(292,999)	570,125
Decrease/(increase) in debtors	78,468	(68,797)
Increase/(decrease) in creditors	1,347,044	(2,255,150)
Increase/(decrease) in provisions	31,937	(176,506)
Corporation tax received	-	364,657
Foreign exchange	(110,518)	(711,062)
Share option charge	304,259	-
Net cash generated from operating activities	614,096	473,267

Cash flows from investing activities
Purchase of intangible fixed assets	(2,556,175)	(1,050,428)
Purchase of tangible fixed assets	(167,252)	(273,059)
Government grants received	28,841	-
Interest received	1,036	2,981
New finance leases entered into	119,500	-
Net cash from investing activities	(2,574,050)	(1,320,506)

Page 16


SYMETRICA LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

		2025	2024
		£	£


Cash flows from financing activities
Issue of ordinary shares	35,000	-
New secured loans	2,908,447	-
Repayment of loans	(2,081,051)	(538,021)
Repayment of/new finance leases	(71,085)	96,964
Interest paid	(88,786)	(66,074)
Net cash used in financing activities	702,525	(507,131)
Net (decrease) in cash and cash equivalents	(1,257,429)	(1,354,370)
Cash and cash equivalents at beginning of year	1,872,889	3,227,259
Cash and cash equivalents at the end of year	615,460	1,872,889

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,083,009	1,872,889
Bank overdrafts	(467,549)	-
	615,460	1,872,889

The notes on pages 19 to 41 form part of these financial statements.

Page 17


SYMETRICA LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 30 SEPTEMBER 2025


At 1 October 2024	Cash flows	New finance leases	At 30 September 2025
£	£	£	£

Cash at bank and in hand	1,872,889	(789,880)	-	1,083,009
Bank overdrafts	-	(467,549)	-	(467,549)
Debt due after 1 year	(6,100)	6,100	-	-
Debt due within 1 year	(304,193)	(817,575)	-	(1,121,768)
Finance leases	(96,964)	71,085	(119,500)	(145,379)
	1,465,632	(1,997,819)	(119,500)	(651,687)

The notes on pages 19 to 41 form part of these financial statements.

Page 18


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1.	General information

Symetrica Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Income and Retained Earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 October 2015.

Page 19


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.3

Going concern

The Directors have prepared forecasts and cash flow projections for a period of at least twelve months from the date of approval of these financial statements and have assessed the Group's ability to continue as a going concern.

The Group operates in a growing market and continues to benefit from a strong order book, established customer relationships and ongoing demand for its products and services. The Directors have considered the current trading performance of the business, expected future revenues, working capital requirements and available funding facilities.

During the year and subsequent period, the Group has continued to receive support from its existing investors, who have participated in various equity funding rounds during March and June 2026 (see Note 33 for further details).

The Group also maintains access to a revolving trade finance facility which supports the funding of inventory purchases and working capital requirements. The Directors have incorporated the anticipated utilisation of this facility within their forecasts.

The forecasts prepared by management indicate that the Group will be able to meet its liabilities as they fall due for the foreseeable future. The forecasts include assumptions regarding future sales, customer receipts, inventory management, continued access to existing funding facilities and the successful completion of the proposed equity investment.

Based on the the funding secured during the year, the Group's expected trading performance and the actions available to management to manage expenditure and working capital, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements.

Accordingly, the financial statements have been prepared on a going concern basis.

Page 20


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Income and Retained Earnings within 'finance income or costs'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 21


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Consolidated Statement of Income and Retained Earnings in the same period as the related expenditure.

2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 22


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.11

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

2.12

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Group keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Page 23


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.14

Development costs

In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. Development expenditure is assessed to have a useful economic life of 5 years, representing the period that the directors believe the assets will have use to the business.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Development costs are amortised once development is complete, amortisation on additions to development costs are therefore calculated at the end of the reporting year.

The estimated useful lives range as follows:

Development expenditure

years straight line

Page 24


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.15

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	5 years
Plant and machinery	-	4 years
Fixtures and fittings	-	4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.17

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.18

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.19

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 25


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.20

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.21

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.22

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit loss
.

Page 26


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

2.Accounting policies (continued)

2.22

Financial instruments (continued)

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Research and Development

Research and development is capitalised if any underlying project is expected to generate future economic value. Capitalised development costs are amortised over their estimated useful economic life of 5 years which is the period over which economic benefit is expected to be derived. The directors are satisfied with the appropriateness of this amortisation policy.

Share options

Where applicable, share option charges have been calculated with reference to the Black Scholes pricing model. The directors consider the assumptions used in this calculation to be appropriate.

Page 27


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Turnover

The whole of the turnover is attributable to the principal activity of the business.

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	2,242,941	1,026,269
USA	8,408,818	20,108,276
Europe	446,286	222,566
Rest of World	3,330,524	14,004
	14,428,569	21,371,115

5.	Other operating income
		2025	2024
		£	£

Government grants receivable	28,841	-
	28,841	-

Research & development charged as an expense	53,115	138,969
Exchange differences	76,548	63,926
Other operating lease rentals	489,425	417,710

	Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements	89,250	85,000
	Fees payable to the Company's auditors for other non-audit services	21,525	20,500

Page 28


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

8.	Employees
	Staff costs, including directors' remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	4,202,644	4,910,664
Social security costs	558,954	464,845
Cost of defined contribution scheme	199,224	208,474
	4,960,822	5,583,983

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Production	71	67
Administration	4	4

	75	71

The Company has no employees other than the directors, who are paid via Symetrica Security Limited.

9.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	367,190	404,325
Group contributions to defined contribution pension schemes	6,830	9,137
	374,020	413,462

	During the year retirement benefits were accruing to 1 director (2024 -1) in respect of defined contribution pension schemes.
	The highest paid director received remuneration of £320,190 (2024 - £349,102).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,829 (2024 - £9,137).
	The total accrued pension provision of the highest paid director at 30 September 2025 amounted to £NIL (2024 - £NIL).
	The amount of the accrued lump sum in respect of the highest paid director at 30 September 2025 amounted to £NIL (2024 - £NIL).

Page 29


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

10.	Key management remuneration

During the year remuneration was paid to key management personnel (excluding directors of Symetrica Limited) of £216,938 (2024: £178,599). In addition to this there were pension contributions of £7,249 (2024: £23,529).

11.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	1,036	2,981
		1,036	2,981

12.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	19,767	50,740
Other interest payable	69,019	15,334
	88,786	66,074

Corporation tax
Current tax on profits for the year	4,815	(320,176)
	4,815	(320,176)

Total current tax	4,815	(320,176)

Deferred tax
Origination and reversal of timing differences	227,272	196,401
Total deferred tax	227,272	196,401


	Tax on (loss)/profit	232,087	(123,775)

Page 30


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

13.Taxation (continued)

(Loss)/profit on ordinary activities before tax

(2,047,034)

1,391,348

(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	(511,758)	347,837
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	25,267	7,796
Capital allowances for year in excess of depreciation	-	716
Adjustments to tax charge in respect of prior periods	(2,990)	(102,553)
Other adjustment to taxable income or expenditure	195,409	(198,067)
Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge	-	67,406
Adjustments to deferred tax	526,159	(443,311)
Credit for federal and state taxes	-	196,401
Total tax charge for the year	232,087	(123,775)

Factors that may affect future tax charges

The company has tax losses carried forward of £3,774k (2024: £2,352k) available for offset against future taxable profits. No deferred tax asset has been recognised in respect of these losses due to uncertainty over the availability of sufficient future taxable profits.

Page 31


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

14.	Intangible assets
	Group

		Development expenditure
		£
	Cost
	At 1 October 2024	7,693,063
	Additions	2,556,175
	Foreign exchange movement	(5,431)
	At 30 September 2025	10,243,807
	Amortisation
	At 1 October 2024	4,615,034
	Charge for the year on owned assets	1,136,966
	Foreign exchange movement	(9,414)
	At 30 September 2025	5,742,586
	Net book value
	At 30 September 2025	4,501,221
	At 30 September 2024	3,078,029

Company

The company has no intangible fixed assets.

Page 32


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

15.	Tangible fixed assets
	Group

	Long-term leasehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 October 2024	234,974	633,315	37,449	905,738
Additions	16,729	149,790	733	167,252
Exchange adjustments	27,202	(61,247)	-	(34,045)
At 30 September 2025	278,905	721,858	38,182	1,038,945
Depreciation
At 1 October 2024	116,020	504,274	5,668	625,962
Charge for the year on owned assets	34,008	64,173	8,883	107,064
Exchange adjustments	4,893	(52,155)	-	(47,262)
At 30 September 2025	154,921	516,292	14,551	685,764
Net book value
At 30 September 2025	123,984	205,566	23,631	353,181
At 30 September 2024	118,954	129,041	31,781	279,776

The net book value of land and buildings may be further analysed as follows:
	2025	2024
	£	£

Long leasehold	123,984	118,954
	123,984	118,954

Page 33


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

16.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 October 2024	900,393
	Additions	304,259
	At 30 September 2025	1,204,652

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

	Symetrica Security Ltd	1st Floor Kenneth Dibben House, Enterprise Road, Southampton Science Park, Southampton, SO16 7NS	Ordinary	100%
	Symetrica Inc	4 Lyberty Way Ste 1, Westford, MA 01886, United States	Ordinary	100%

17.	Stocks
		Group	Group
		2025	2024
		£	£

Raw materials and consumables	2,360,963	2,135,106
Work in progress (goods to be sold)	132,694	65,552
	2,493,657	2,200,658

The difference between purchase price or production cost of stocks and their replacement cost is not material.

Page 34


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

18.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	4,041,641	3,575,772	-	-
Amounts owed by group undertakings	-	-	11,636,207	10,071,178
Other debtors	175,923	224,827	-	-
Prepayments and accrued income	431,860	400,025	-	-
Tax recoverable	-	530,439	-	-
Deferred taxation	49,345	278,261	-	-
	4,698,769	5,009,324	11,636,207	10,071,178

19.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	1,083,009	1,872,889	2,304	1,715
Less: bank overdrafts	(467,549)	-	-	-
	615,460	1,872,889	2,304	1,715

Page 35


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

20.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Bank overdrafts	467,549	-	-	-
Bank loans	1,102,758	269,262	-	-
Trade creditors	2,456,964	1,247,235	-	-
Other taxation and social security	97,116	70,691	-	-
Obligations under finance lease and hire purchase contracts	73,309	33,245	-	-
Other creditors	477,327	68,585	-	-
Accruals and deferred income	879,042	1,176,894	7,800	7,800
	5,554,065	2,865,912	7,800	7,800

The Company and Group have access to a loan facility included in Creditors due within one year, totalling £1,102,758.

The loan is repayable by monthly instalments and the interest is payable at a rate of 4.0%.

The obligations under finance lease and hire purchase contracts are secured against the asset in which they relate.

21.	Creditors: Amounts falling due after more than one year
		Group	Group
		2025	2024
		£	£

Bank loans	-	6,100
Net obligations under finance leases and hire purchase contracts	72,070	63,719
	72,070	69,819

The obligations under finance lease and hire purchase contracts are secured against the asset in which they relate.

Page 36


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

22.	Loans
	Analysis of the maturity of loans is given below:
		Group	Group
		2025	2024
		£	£

Amounts falling due within one year
Bank loans	1,102,758	269,262
	1,102,758	269,262

Amounts falling due 2-5 years
Bank loans	-	6,100
	-	6,100

	1,102,758	275,362

23.	Hire purchase and finance leases
	Minimum lease payments under hire purchase fall due as follows:
		Group	Group
		2025	2024
		£	£

Within one year	73,309	33,245
Between 1-5 years	72,070	63,719
	145,379	96,964

Page 37


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

24.	Deferred taxation
	Group

		2025
		£

	At beginning of year	278,261
	Charged to profit or loss	(228,916)
	At end of year	49,345

		Group	Group
		2025	2024
		£	£

	Tax losses carried forward	49,345	278,261
		49,345	278,261

25.	Provisions
	Group

		Warranty provisions
		£

	At 1 October 2024	301,620
	Charged to profit or loss	31,937
	At 30 September 2025	333,557

There is the obligation to repair or replace any defective hardware, Symetrica software and/or third party software relating to the sale of equipment or refund the price of such defective equipment in full from the date of delivery of the equipment and ending 12 months after the date of delivery of the equipment. As this time has not yet passed in full, there are uncertainties around the amount and timing of the resulting payments.

Page 38


SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

26.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

220,053 (2024 - 220,053) Ordinary shares of £0.001 each	220.05	220.05
85,091 (2024 - 85,091) A Ordinary shares of £0.001 each	85.09	85.09
217,473 (2024 - 217,473) B Ordinary shares of £0.001 each	217.47	217.47
40 (2024 - 40) C Ordinary shares of £1.000 each	40.00	40.00
228,772 (2024 - 227,772) D Ordinary shares of £0.001 each	228.77	227.77

	791.38	790.38

Ordinary shares, A Ordinary shares, B Ordinary shares, C Ordinary shares and D Ordinary shares

For the above classes of shares, each has the right to attend and vote at all general meetings. Each share holds one voting right, with the exception of C Ordinary shares, which hold 1,000 votes each. Holders of the above shares have the right to receive pro rata distributions of dividends. The shares are not redeemable.

Liquidation rights

Upon liquidation, the return of assets on liquidation, reduction of capital or otherwise remaining after payment of its debts and liabilities and of the costs, charges and expenses of such liquidation, shall be applied in the following manner and order of priority:
(a) first, in paying the holders of A Ordinary shares the sum equal to all arrears on the A Ordinary shares;
(b) secondly, in paying to the holders of A Ordinary shares an amount equal to the aggregate subscription price; and
(c) thirdly, in distributing the balance amongst the A Ordinary shareholders, the holders of B Ordinary shares, the holders of C Ordinary shares, the holders of D Ordinary shares and the Ordinary shareholders in proportion to the amounts paid up or credited as paid up.

On 17 February 2025, 1,000 D Ordinary shares of £0.001 each were issued and allotted at a price of £35 per share.

27.

Reserves

Share premium account

Share premium account includes all premiums payable on purchase of share capital.

Foreign exchange reserve

Foreign exchange reserve includes translation differences arising on the consolidation of a foreign subsidiary.

Share option reserve

Share option reserve includes the cumulative charge to date for share options issued.

Profit and loss account

Profit and loss account includes all current and prior period retained profits and losses.

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SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

28.	Share-based payments

The number and weighted average exercised price of share options during the year are as follows:
	Weighted average exercise price (pence) 2025	Number 2025	Weighted average exercise price (pence) 2024	Number 2024

Outstanding at the beginning of the year	3,453	54,728	3,453	54,728
Granted during the year	2,070	16,728	-	-
Expired during the year	2,932	(11,728)		-
Outstanding at the end of the year	3,168	59,728	3,453	54,728
Exercisable at end of the year	3,168	59,728	3,453	54,728

Certain employees of subsidiaries of the group participate in a share option scheme operated by Symetrica Limited, under which options are granted over shares in Symetrica Limited. Awards are settled through the issue of equity instruments in Symetrica Limited. Options generally have a maximum term of 10 years.

The relevant subsidiary recognises a share-based payment expense in respect of services received from participating employees. The expense is determined by reference to a reasonable allocation of the group's share-based payment expense, based on which subsidiary the relevant employee's services are delivered to. The parent company Symetrica Limited recognises additional investment in the relevant subsidiary equal to the amount of expense recognised in that subsidiary. Options are valued using a Black-Scholes model.

The total expense recognised during the year in respect of share-based payments totalled £304,259 (2024: £nil).

29.	Contingent liabilities

The Group has access to a loan facility of up to £1,550,000, amounts drawn under which are included within creditors falling due within one year. This facility is secured by way of cross guarantee between all group companies and fixed and floating charges over all assets owned by the Group.

30.	Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £199,224 (2024: £208,474). Contributions totalling £41,033 (2024: £16,781) were payable to the fund at the reporting date and are included in creditors.

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SYMETRICA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

31.	Commitments under operating leases
	At 30 September 2025 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2025	2024
		£	£


Not later than 1 year	281,486	334,070
Later than 1 year and not later than 5 years	561,162	377,968
	842,648	712,038

Lease payments recognised as an expense in the year amounted to £489,425 (2024: £417,710).

32.	Related party transactions
	The Group paid management fees to: -Technology Venture Partners LLP, a partner of which is also a director of this company, totalling £18,000 (2024: £15,000). A balance of £14,750 was outstanding at the year end (2024: £8,750). -Parkwalk Advisors Limited, a director of the Company, totalling £60,000 (2024: £Nil). A balance of £3,107 was outstanding at the year end (2024: £10,606).

33.	Post balance sheet events

Subsequent to the reporting date, the Group completed two equity fundraisings, which together have strengthened the Group's working capital position and provide funding to support its future growth plans.

In March 2026, the Group completed an equity fundraising with its existing investors, raising £1.2 million. This was followed by a further equity fundraising in June 2026, which raised an extra £2.7m which was received between June and September 2026.

The total proceeds of £3.9 million from these post balance sheet equity fundraisings provide the Group with additional funding to support its future growth plans and reflect the continued support of the Group's investors.

As these transactions occurred after the reporting date and do not provide evidence of conditions that existed at that date, they have been treated as non-adjusting events in accordance with FRS 102 Section 32, Events after the End of the Reporting Period. Accordingly, no adjustment has been made to the amounts recognised in these financial statements.

34.	Controlling party

The directors consider that there is no ultimate controlling party.

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